Google (Symbol: GOOG) missed earnings expectations yesterday and that gave shareowners a moment of pause. In after-hours trading on Thursday, Google began declining.
Today (Friday) was actually a great day to get into Google or acquire more shares. In intraday trading, Google fell to $509.50, which was almost 8% lower than Thursday’s close of $548.51.
The last time Google saw $509 was a month ago when it closed at $509.97 on June 20, 2007.
Smart investors should have seen this dip coming. There’s a lot of stress built into Google’s stock and even the slightest whisper of the unexpected will send it lower.
Google reported $3.56 per share on $2.72 billion net revenue, which was slightly off from Wall Street’s expectation of $3.59 per share from $2.68 billion net revenue.
Missing expectations in January 2006, shares were sent lower immediately, but they eventually recovered and moved higher in the coming days, weeks and months.
My name is Jason A. Martin. I'm an investor/trader and financial writer. This is my blog. I also run a site dedicated to currency trading at CapitalistNation.com. If you'd like to follow me on twitter, here's the link: Jason A. Martin If you need financial content (articles, newsletters, eBooks, etc) for your site, publication and/or business, go to FinancialWriter.org (my service) for more details.
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My name is Jason A. Martin and this is my investment blog. Back in Jr. High School I fell in love with an electrical wiring company's stock on Wall Street. After following the stock daily in the papers—the Internet wasn't around back then—I sent them a letter and they sent me back all sorts of wonderful information about their company.
In High School, we had a stock market contest. All the kids were picking companies that made stuff they consumed. When I announced my beloved company, I was laughed at. Little did they know that my company was going to be the subject of a takeover soon.
Long story short, I won the contest and have made money in the stock market, through real estate investing, currency trading and so forth.
I hope you enjoy Financial Rebel. If you do, please leave your comments and share this site with those you know. I also run a currency trading blog over at CapitalistNation.com.
Jason
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